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Allied Healthcare Jumps 31%, Draws ASX Price And Volume Query

Allied Healthcare (ASX: AHZ) has received an ASX "speeding ticket" following a 31% spike in its share price to an intra day high of $0.076 on 19 August from its close of $0.058 on Monday, 12 August, along with an increase in trading volume.

The company said it is not aware of any unannounced information that if known could be an explanation for the recent trading in its securities.

However, it noted that RBS Morgans had on 13 August 2013 released an updated research note with an outperform rating of the company.

RBS Morgans have assumed a probability of success of 80% for its CardioCel® cardiovascular tissue repair product receiving CE Mark approval in the current quarter.

Allied had in June started the first human trials of a Herpes (HSV-2) vaccine developed by Professor Ian Frazer's Coridon group in which the company has a 46.8% interest.

It has also seen growing interest from leading surgeons in using its CardioCel® cardiovascular tissue repair product under the Australian Prescriber Scheme with six surgeons now using it to repair congenital heart disease.

Notably, Allied has received a $1.9 million grant from Commercialisation Australia to help commercialise CardioCel®.

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